PR 3-42 (Algo) Schedule of Cost of Goods Manufactured and Sold; Income Statement (LO 3-6) [The...

Transcribed Image Text:

PR 3-42 (Algo) Schedule of Cost of Goods Manufactured and Sold; Income Statement (LO 3-6) [The following information applies to the questions displayed below.] The following data refer to snack maker Taquitos To Go for the year 20x1. Work-in-process inventory, 12/31/x0 Selling and administrative salaries Insurance on factory and equipment Work-in-process inventory, 12/31/x1 Finished-goods inventory, 12/31/x0 Cash balance, 12/31/x1 Indirect material used. Depreciation on factory equipment Raw-material inventory, 12/31/x0 Property taxes on factory $ 8,000 13,700 3,600 8,300 14,000 8,000 4,300 2,100 10,200 2,400 Finished-goods inventory, 12/31/x1 15,300 Purchases of raw material in 20x1 39,200 Utilities for factory 6,000 Utilities for sales and administrative offices 2,400 Other selling and administrative expenses 3,800 Indirect-labor cost incurred 29,000 Depreciation on factory building 3,600 Depreciation on cars used by sales personnel 1,200 Direct-labor cost incurred 79,000 Raw-material inventory, 12/31/x1 11,000 Accounts receivable, 12/31/x1 4,200 Rental for warehouse space to store raw material Rental of space for company president's office Applied manufacturing overhead 3,100 1,500 Sales revenue Income tax expense PR 3-42 (Algo) Part 1 Prepare the company's schedule of cost of goods manufactured... 58,000 207,800 5,100 Direct material: Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20X1 Raw-material inventory, 12/31/x0 Raw material used Direct labor Manufacturing overhead: Total actual manufacturing overhead Overhead applied to work in process Total manufacturing costs Subtotal Cost of goods manufactured PR 3-42 (Algo) Schedule of Cost of Goods Manufactured and Sold; Income Statement (LO 3-6) [The following information applies to the questions displayed below.] The following data refer to snack maker Taquitos To Go for the year 20x1. Work-in-process inventory, 12/31/x0 Selling and administrative salaries Insurance on factory and equipment Work-in-process inventory, 12/31/x1 Finished-goods inventory, 12/31/x0 Cash balance, 12/31/x1 Indirect material used. Depreciation on factory equipment Raw-material inventory, 12/31/x0 Property taxes on factory $ 8,000 13,700 3,600 8,300 14,000 8,000 4,300 2,100 10,200 2,400 Finished-goods inventory, 12/31/x1 15,300 Purchases of raw material in 20x1 39,200 Utilities for factory 6,000 Utilities for sales and administrative offices 2,400 Other selling and administrative expenses 3,800 Indirect-labor cost incurred 29,000 Depreciation on factory building 3,600 Depreciation on cars used by sales personnel 1,200 Direct-labor cost incurred 79,000 Raw-material inventory, 12/31/x1 11,000 Accounts receivable, 12/31/x1 4,200 Rental for warehouse space to store raw material Rental of space for company president's office Applied manufacturing overhead 3,100 1,500 Sales revenue Income tax expense PR 3-42 (Algo) Part 1 Prepare the company's schedule of cost of goods manufactured... 58,000 207,800 5,100 Direct material: Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20X1 Raw-material inventory, 12/31/x0 Raw material used Direct labor Manufacturing overhead: Total actual manufacturing overhead Overhead applied to work in process Total manufacturing costs Subtotal Cost of goods manufactured